Ukraine economics minister Aivaras Abromavicius resignation: ‘wise’ rats are abandoning sinking ship

Recent resignation of the economics minister Aivaras Abromavicius is very telling. Aivaras Abromavicius is Lithuanian, one of the entire crop of foreign ‘talent’ hired by Poroshenko to manage the country. Together with him, many of his staffers left too.

Various ‘leaders’ of the EU and US issued alarmed statements after Abromavicius resignation, calling him a ‘great reformer’ and ‘Ukraine’s hope,’ and demanding his reinstatement. When US/EU say jump, Poroshenko immediately asks, ‘how high?’ Poroshenko, this ‘leader of absolutely sovereign Ukraine’ begged Abromavicius to stay, but was rebuffed by the latter.

Of course he was: you can’t stop a rat once it’s sure the ship is on its way down!

You know me: usually you wouldn’t catch me quoting from US MSM. But this one exception – it’s that juicy and THAT FUNNY! So, a quote from Bloomberg article from January 2015, Can This Man Save Ukraine’s Economy?:

“Aivaras Abromavicius has managed money-losing funds for years, but he never presided over anything as hopeless as the Ukrainian economy. Still, the recently appointed economy minister is full of good cheer and certain he and his colleagues in the new cabinet can turn things around. It all depends on whether international lenders give Ukraine enough time to reform itself at the pace the government is setting.

Strictly speaking, Abromavicius should never have become a government official in Ukraine. The 38-year-old asset manager is Lithuanian by birth. He moved to Kiev six years ago after marrying a Ukrainian, the chief executive of an agricultural company in which a private equity fund run by Abromavicius’s employer, the Swedish investment firm East Capital, took a stake. He only gave up his Lithuanian citizenship after accepting the ministerial post.

Two more foreigners – U.S. citizen Natalie Jaresko and Georgian Oleksandr Kvitashvili – accepted Ukrainian citizenship at the same time, to become finance and health ministers, respectively.

I asked Abromavicius why he was picked over all the other fund managers and investment bankers in the world – surely there are some with ties to Ukraine at least as strong as his own? He replied, simply: “I guess there was no one bigger than me in Kiev.” East Capital, he says, manages a $5 billion portfolio, and he’s a partner (according to data compiled by Bloomberg, his share in East Capital Explorer AB is worth $372,000).

That isn’t much by Western standards, but it’s enough. Abromavicius’s salary at the ministry is a few hundred dollars a month – he doesn’t even know how much exactly – and Ukraine needs people with means of their own in the cabinet, to help ensure they enter government for the right reasons. His Ukrainian passport is about a month old, and he admits to understanding about 85 percent of what he hears in government meetings held in Ukrainian, which he doesn’t speak. Still, he describes himself as a patriot.

The two biggest funds Abromavicius managed were East Capital Russian Fund, with a five-year total return of minus 46 percent, and East Capital Eastern European Fund, with a five-year total return of minus 30 percent. The last time the entities saw any noticeable growth was in 2011. That’s not really Abromavicius’s fault: Eastern European equities, especially Russian ones, haven’t performed well in recent years. Ukraine, for its part, doesn’t even have a stock market to speak of. It’s an economic wasteland.”

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Lada Ray is a linguist & former financial consultant with Smith Barney. Born in Russia, Lada lived and traveled to nearly 30 countries on most continents. She is the internationally certified Feng Shui Master and author of 3 novels + multiple novelettes; most notably, top-rated metaphysical thriller THE EARTH SHIFTER & bestselling thriller GOLD TRAIN (Accidental Spy Russia Adventure). Lada has extensively written re. Russia, world cultures, geopolitics, empire collapse, feng shui and consciousness. She is known for her accurate predictions. Lada's Blogs: FuturisTrendcast - geopolitics and predictions. Lada Ray Blog - books, writing, world cultures. We are presently working on expanding Lada Ray Youtube channel to include Lada's original geopolitical analysis and far-reaching global predictions, as well as her mystical futurism. The world is going through a massive tectonic shift of consciousness on all levels and in all aspects of life. Make sure you are prepared! Subscribe!

Posted on February 23, 2016, in Earth Shift Report, Ukraine, USA/EU/West and tagged , , , , , . Bookmark the permalink. 4 Comments.

  1. Lada, thank you for three consecutive informative posts. Here is a small contribution from me. A translation of an AiF article, which sheds some light on the state of affairs in Donbass at this time.

    Lean Peace. Why Ukraine is not fulfilling its obligations regarding Donbass?


  2. This will be a 2-part comment on unrelated topics.🙂

    1. A question to “Ask Lada”: Have you ever come across the Portuguese language? I had some contact with it while visiting Madeira and noticed several peculiarities. First of all Portuguese pronunciation is very close to that of Polish. If you cannot here the words, and just go by pronunciation, you’d be hard-pressed to distinguish the two. Second, there are some close words, for example, “suc”, meaning “juice” – compare it to Russian “sok”. On the other hand Portuguese and Spanish are so close that the people of the two countries don’t need a translator – a Russian/Ukrainian kind of closeness. It feels as if Portuguese is a step on the way from a Slavic language to a Latin one…

    2. A character assassination attempt was made yesterday on Ramzan Kadyrov, a man whose father died fighting the NATO-funded terrorists in Chechenia, and who himself brought peaceful life to Chechenia, making it a prosperous republic within Russian Federation. It was interesting to observe how this act of character assassination was performed – an “opposition” party guy went to Grozny, hired a taxi, spent there 50 minutes, took a few selfies and then, positioning himself as an expert on Chechenia, release a report on how Kadyrov is a threat to national security… Kadyrov masterfully countered the sensationalist move, by publishing a leaked copy of the “report” on his own social media pages ahead of the would-be sensational press conference. Russia has been countering such 5th column moves recently with quite effective weapon – not by prohibiting or censoring, but by making such moves fully publicly disclosed. Recently, a few trips to closed university meeting by an American ambassador assistant in Ekaterinburg made the national news…


    • Good catch on Kadyrov, Nemo. I actually have written a piece on anti-Kadyrov attacks a while back, but never published it due to other stuff going on. Thanks for reminding me. Will get around to it.

      On Portuguese: I actually have only been in touch with Brasilian Portuguese, which has a Latin American flavor/accent. Portugal, amazingly, is one of the few countries in Europe I haven’t stepped into, so far.

      But I can do beter: first I can tell you that your instinct is right on!
      Second, I’ll tell you the whole big story of the ‘missing link’😉 between Slavic and Latin. It’s a big and long story… So much convoluted stuff there that is also amazingly fascintating. I will have a post on that as soon as I can. Please stay tuned!


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